This invention relates to a coin or token having a Wiegand wire therein, and is particularly directed to a coin or token having one or more Wiegand wires therein for use in coin-operated machines, such as gambling machines, which are capable of detecting the insertion of such coins/tokens.
The gambling industry incurs a substantial loss in revenue due to the existence and use of counterfeit tokens and counterfeit coins (often called slugs) in gambling machines. When mass produced, counterfeit coins and tokens are relatively inexpensive to manufacture since they generally only need to have the same dimensions and weight of the authentic coin/token.
While there have been previous attempts to manufacture a token that is difficult to counterfeit, such attempts have fallen short of industry requirements. Such requirements generally call for expected savings that far outweigh the cost of converting existing and new gambling machines to recognize and only accept the proposed "counterfeit proof" token.
It is therefore an object of this invention to provide a token which is impossible or, at least, exceedingly difficult to counterfeit.
It is another object of this invention to provide a token which is difficult to counterfeit, but which is relatively easy to manufacture.
Various other objects, advantages and features of the present invention will become readily apparent to those of ordinary skill in the art, and the novel features will be particularly pointed out in the appended claims.